Mercury Systems (Nasdaq: MRCY) has closed its purchase of Avalex Technologies, a Florida-based avionics provider to the defense and commercial sectors.
Mercury first announced the deal Sept. 27 and the company said Monday it financed the acquisition using cash on hand and a revolving credit facility.
Avalex is projected to generate $40 million in revenue for the 12 months ending Dec. 31, 2022.
Mark Aslett, president and CEO at Mercury Systems and a 2021 Wash100 awardee, said the acquisition aligns with the company’s strategy to address a demand for digitally converged products in the command, control, communications, computers, intelligence and mission management markets.
